Texas Bank & Trust Co Purchases Shares of 39,227 The Coca-Cola Company (NYSE:KO)
Texas Bank & Trust Co acquired 39,227 shares of The Coca-Cola Company (NYSE:KO) valued at approximately $2.44 million, making it the 29th largest holding in their portfolio. Other institutional investors also increased their stakes in Coca-Cola during the fourth quarter. The stock opened at $72.01, with a market cap of $309.93 billion. Coca-Cola reported earnings of $0.73 per share, beating estimates, and announced a quarterly dividend of $0.51 per share. Analysts have recently upgraded their target prices for the stock, reflecting positive sentiment.
Texas Bank & Trust Co acquired a new stake in shares of The Coca-Cola Company (NYSE:KO - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 39,227 shares of the company's stock, valued at approximately $2,442,000. Coca-Cola comprises about 1.0% of Texas Bank & Trust Co's portfolio, making the stock its 29th largest holding.
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Other large investors have also modified their holdings of the company. Norges Bank purchased a new stake in Coca-Cola during the fourth quarter valued at about $3,402,151,000. Capital International Investors raised its holdings in shares of Coca-Cola by 96.0% during the fourth quarter. Capital International Investors now owns 24,949,194 shares of the company's stock valued at $1,553,337,000 after acquiring an additional 12,222,885 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Coca-Cola by 18.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 74,163,187 shares of the company's stock valued at $4,617,400,000 after acquiring an additional 11,569,920 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Coca-Cola in the 4th quarter worth approximately $500,192,000. Finally, Franklin Resources Inc. boosted its stake in Coca-Cola by 21.9% in the 4th quarter. Franklin Resources Inc. now owns 34,103,772 shares of the company's stock worth $2,123,301,000 after purchasing an additional 6,118,819 shares during the period. 70.26% of the stock is owned by institutional investors.
Coca-Cola Stock Up 0.6%
Shares of Coca-Cola stock opened at $72.01 on Friday. The Coca-Cola Company has a 12-month low of $60.62 and a 12-month high of $74.38. The company has a quick ratio of 0.84, a current ratio of 1.03 and a debt-to-equity ratio of 1.61. The stock has a 50 day moving average price of $70.88 and a two-hundred day moving average price of $66.77. The stock has a market capitalization of $309.93 billion, a P/E ratio of 29.15, a PEG ratio of 3.79 and a beta of 0.47.
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Coca-Cola (NYSE:KO - Get Free Report) last posted its earnings results on Tuesday, April 29th. The company reported $0.73 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.71 by $0.02. The business had revenue of $11.13 billion for the quarter, compared to analyst estimates of $11.23 billion. Coca-Cola had a net margin of 22.59% and a return on equity of 45.37%. Coca-Cola's revenue was down .7% compared to the same quarter last year. During the same period last year, the business posted $0.72 EPS. Equities analysts expect that The Coca-Cola Company will post 2.96 earnings per share for the current year.
Coca-Cola Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be given a dividend of $0.51 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $2.04 annualized dividend and a dividend yield of 2.83%. Coca-Cola's dividend payout ratio is presently 81.60%.
Insider Activity at Coca-Cola
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In other Coca-Cola news, insider Bruno Pietracci sold 19,058 shares of the stock in a transaction on Monday, February 24th. The shares were sold at an average price of $70.56, for a total value of $1,344,732.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO James Quincey sold 145,435 shares of the business's stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $71.01, for a total transaction of $10,327,339.35. Following the transaction, the chief executive officer now owns 342,546 shares in the company, valued at approximately $24,324,191.46. The trade was a 29.80% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 462,407 shares of company stock worth $32,990,056 in the last 90 days. 0.97% of the stock is owned by company insiders.
Analyst Upgrades and Downgrades
A number of analysts have recently issued reports on KO shares. UBS Group increased their target price on Coca-Cola from $84.00 to $86.00 and gave the company a "buy" rating in a report on Wednesday, April 30th. Wells Fargo & Company increased their price objective on Coca-Cola from $70.00 to $75.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 12th. Evercore ISI raised their price objective on Coca-Cola from $72.00 to $75.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 12th. Barclays reiterated an "overweight" rating on shares of Coca-Cola in a report on Thursday, March 27th. Finally, Royal Bank of Canada raised their price target on shares of Coca-Cola from $73.00 to $76.00 and gave the stock an "outperform" rating in a report on Wednesday, April 30th. Two research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $75.59.
View Our Latest Analysis on Coca-Cola
About Coca-Cola
(Free Report)The Coca-Cola Company, a beverage company, manufactures, markets, and sells various nonalcoholic beverages worldwide. The company provides sparkling soft drinks, sparkling flavors; water, sports, coffee, and tea; juice, value-added dairy, and plant-based beverages; and other beverages. It also offers beverage concentrates and syrups, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.
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